Uruguay: Punta’s real-estate explosion

Punta del Este, known simply as “Punta,” has fully recovered its status as the southernmost hot spot for the international jet set during January and February, the summertime peak in the Southern Hemisphere.
Multimillion-dollar yachts bob in the downtown harbour. Private jets are landing in record numbers. And real estate prices — in a place already home to the region’s highest concentration of million-dollar houses — are spiralling.
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